Investment guru Brian Tora, writing in a July edition of Money Marketing, notes that the independent finance advice (IFA) community will be looking at passive investment funds following the retail distribution review (RDR). IFAs have preferred commission from active funds but there will be RDR changes on adviser remuneration.
Tora reveals that at a recent presentation of investment trusts Aberdeen extolled the merits of its Edinburgh US Investment Trust. This passive fund has a tracking error of just 0.1 per cent. To declare an interest my son has a few shares in this trust.
Some 75 pct of funds fail to beat the index.
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